In the UK, there is a big push right now to deregulate the amount a director, including non-executive directors, can be paid. They are taking the cap off bonuses to help these multimillionaires deal with the increase in the cost of living…
These people don't struggle to pay their bills day-to-day. And yet the lower paid people are being told there is no money to raise wages to help them during these tough times.
Essentially, they're lobbying to allow the richest to get richer. Those that don't need the money will be entitled to more. Yet those of us that are struggling are denied wage increases that match the rate of inflation. This means we're paying more for everyday essentials, so our pounds and dollars don't go as far.
Wage increases below the rate of inflation are wage cuts in everything but name